UK debt mountain only begins to fall in 2027-28

Public sector net debt excluding the Bank of England, % of GDP

Outturn

March 2022 forecast

November 2022 forecast

March 2023 forecast

100%

Projection

90

80

70

60

50

40

30

2007

-2008

2011

-2012

2015

-2016

2019

-2020

2023

-2024

2027

-2028

Outturn

March 2023 forecast

March 2022 forecast

November 2022 forecast

100%

Projection

90

80

70

60

50

40

30

2007-08

2011-12

2015-16

2019-20

2023-24

2027-28

Guardian graphic. Source: OBR. March 2023 Economic and fiscal outlook